Wednesday 23 November 2022 – 1.08pm
DUBAI, 23rd November, 2020 (WAM) — Emirates District Cooling Company (Emicool), a joint venture between Dubai Investments, the investment firm listed on the Dubai Financial Market, and Actis, a global investor in sustainable infrastructure, has signed a partnership agreement for the purchase of energy from Emirates Electrical Engineering (EEE), the company specializing in the solar energy market in the country.
The deal underscores Emicool’s efforts to increase the volume and capacity of existing solar power generation within District Cooling Plant 1 (DCP1) by 238 percent, along with the confines of its headquarters located in Dubai Investments Park 1.
The agreement is in line with Emicool’s strategic objectives, through which it seeks to increase the volume of clean and renewable energy sources in its operations and support transformation processes in the energy fields by reducing carbon dioxide emissions, which increases the total utilization rate of solar across its portfolio of businesses and operations, with aspiration after the launch of its latest solar facade conversion projects to achieve 350 kW (solar power generation capacity) per l district cooling plant 1 (DCP1).
In turn, Dr. Adeeb Mubadder, CEO of Emicool, highlighted efforts to support and promote the country’s national strategies such as the Dubai Integrated Energy Strategy 2030, as well as the Emirates Energy Strategy 2050, as well as his contribution to the wider sustainability program of the Dubai Investments Company, with a focus on integrating the latest technology and technology to achieve zero carbon emissions and improve the use of sustainable renewable energy.
In its operations, Emicool relies on a well-invested business model, which has provided the opportunity and enabled it to achieve growth and transform into a platform comprising 18 operational district cooling plants with a total cooling capacity of over 330,000 thousand TR, as well as providing district cooling services to several strategic locations in Dubai, including Dubai Investments Park, Dubai Motor City, Dubai Sports City, Uptown Mirdif, Palazzo Versace, Damac Hills, Mirdif Hills and Nakheel Night Market, Roads and Transport Authority Metro stations (Expo line) and the Convention and Exhibition Center at the Expo 2020 site
Dina Omar/Mohammed Jaballah
